11:57 AM EST - Electrovaya Inc. : announced that it has acquired 71.6% of the shares of Miljøbil Grenland AS (MBG), bringing Electrovaya's shareholding to 78.1% of MBG. MBG is based in Porsgrunn, Norway. MBG has invested about $30 million U.S. in lithium ion battery technologies for a range of electric vehicle and other transportation applications. At the time of the acquisition, the controlling automotive OEM made a substantial investment in a non-exclusive IP license to use MBG's technology. Electrovaya Inc.
shares T.EFL are trading up $0.03 at $0.43.
